Jardine Lloyd Thompson Capital Markets (JLTCM) has arranged another Market Re private placement catastrophe bond, Market Re 2015-3, which closed at $31.1 million.
This Market Re bond will provide one year of indemnity-based collateralised catastrophe reinsurance coverage for the cedant’s Florida book of business through two different classes, addressing both severity and frequency.
“Market Re is continuing to become an even more valuable part of reinsurance risk transfer solutions,” commented Michael Popkin, managing director and co-head of insurance-linked securities at JLTCM.
“Because of Market Re’s cost effective structure and overall ease of execution, our cedants are seeing Market Re private placement cat bonds as integral to their overall programmes.”
CEO of JLT Re North America, Ed Hochberg, added: “This efficient path to capital markets execution is opening up a number of opportunities across the growing range of JLT’s clients.”
